Understanding Examinership in Ireland: A Guide for Businesses and Creditors

Examinership is a process in Ireland where a company can apply to the court for protection from its creditors while it tries to restructure or recover from financial difficulties. The process is similar to administration in the UK and bankruptcy in the US.

During examinership, the company is protected from legal action by its creditors, and a court-appointed examiner takes control of the company's assets and operations. The examiner will then work with the company's management and creditors to restructure the company's debts and try to return it to profitability.

Examinership can be a useful tool for companies that are facing financial difficulties but have the potential to recover if they can restructure their debts and operations. It can also provide a way for creditors to recover some of the money they are owed, rather than simply writing off the debt as a loss.

To be eligible for examinership, a company must meet certain criteria, such as having a reasonable prospect of survival and being able to pay its debts within a certain time frame. The process is overseen by the courts, and the examiner must report regularly to the court on the progress of the restructuring efforts.